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392573v1 JSB BL140-12 RESOLUTION NO. 7846 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA Authorizing the Issuance of a General Obligation Equipment Certificate of Indebtedness, Series 2011 to the City of Blaine, Minnesota BE IT RESOLVED By the City Council of the City of Mounds View, Ramsey County, Minnesota (the “City”) as follows: Section 1. Background. (a) The City of Blaine, Minnesota (“Blaine”) has issued its $1,560,000 General Obligation Equipment Certificates of Indebtedness, Series 2011A (the “Blaine Certificates”) pursuant to Minnesota Statutes, Sections 412.301 (the “Act”) to provide financing for the acquisition of various items of capital equipment for municipal fire protection and firefighting purposes for the Spring Lake Park- Blaine-Mounds View Fire Department (the “Equipment”). (b) The City together with Blaine and the City of Spring Lake Park, Minnesota (“Spring Lake Park” and, together with the City and Blaine, the “Cities”) have approved and entered into that certain Joint Powers Agreement for the Provision of Fire Protection Services dated December 11, 1990, as previously amended and supplemented (the “Joint Powers Agreement”) and a Supplement to Joint Powers Agreement (the “Supplement”) to provide for, among other things, fire protection services for the Cities. (c) Pursuant to the Supplement the Cities have each agreed to pay its proportionate share of the debt service on the Blaine Certificates in accordance with a formula based on each city’s proportionate number of fire calls to the total number of calls made each year and each city’s proportionate tax capacity to the total combined tax capacity of the Cities (as specifically set forth in the Joint Powers Agreement, the “Formula”). Section 2. Form of MV Certificate. To evidence its obligation to pay its proportionate share of the debt service on the Blaine Certificates, it is necessary and expedient to the sound financial management of the affairs of the City to issue a General Obligation Equipment Certificate of Indebtedness, Series 2011 (the “MV Certificate”) pursuant to the Act in a principal amount up to $250,000 and bearing interest at the rates set forth in the Blaine Certificates but payable by the City in accordance with the Formula. The MV Certificate will be printed or typewritten in substantially the form attached to this resolution.